News Snapshot:
That went well. A monster £ 50bn -plus bid for GlaxoSmithKline’s consumer healthcare business from Unilever – months in the making and designed to shore up its ailing share price – scotched in the space of days. So what on earth just happened? Reports emerged over the weekend that three pre-Christmas bids from Unilever for GSK ’s consumer health joint venture with Pfizer had been rejected, the latest £ 50bn bid still “fundamentally undervaluing” the business . With its hand shown, Unilever confirmed in a statement to the London Stock Exchange on Monday it was still in talks, with CEO...
